Hi guys,
I have grown up on the coast and must say the lifestyle definitely has it over Sydney.
There are approx 40,000 people that commute to Sydney each day. So there are a lot of people taking advantage of the lifestyle and cheaper property prices than Sydney.
There has been very little growth on the coast now for the better part of a decade. But there are a few projects in the works which will help to change this area from warm (on Margaret Lomas' hotspot list) to potentially hot!
The first and foremost is a university in Gosford CBD, this would provide the spark to help revitalise the city and turn it into a uni town. This will be one of the catalysts to help retain young people on the coast, firstly for education and then work once we see continued investment in Gosford as a regional city.
The university of Newcastle has already signed an MOU to establish a university presence in the CBD.
http://www.newcastle.edu.au/news/2013/01/17/university-to-establish-presence-in-gosford-city.html
Both the council and federal members are currently identifying opportunities for joint funding for the university complex.
http://centralcoast.businessink.com.au/stories/health-social/partnership-sees-hope-for-kibbleplex
There are several key infrastructure projects in the works which will enable better commuter travel times to Sydney both by rail and road.
The first is the F3 and M2 road link, which would create a bypass onto the M2 for commuters from the coast.
http://www.dailytelegraph.com.au/ne...and-m2-road-link/story-fni0cx12-1226667950697
The second project, which has already commenced work is the passing loops rail project. The project encompasses building two passing loops between the major rail bottleneck on the coast which is Gosford station.
This will result in passenger trains been able to overtake freight trains, aiming to improve both commuter and freight train times and frequency. This project started in March this year.
http://www.railway-technology.com/news/newsdowner-edi-wins-gosford-passing-loops-project-australia
At the same time other components to the rail project, been the Northern Sydney Freight corridor will help with freight trains within the Sydney metropolitan area.
On top of all this is the proposed plan to redevelop the Gosford CBD and waterfront. This initially was meet with controversy, but council have since revised plans and again this development is back on the table.
http://www.ccrdc.nsw.gov.au/FAQ/TheWaterfrontatGosford.aspx
I think the central coast shows great potential, if one or two of the major projects end up coming off, this will truly revitalise the region and help the coast to build and develop it's own educational (tertiary) and economic climate.
The areas that are currently in demand are around the Gosford station, like Narara, Wyoming, Niagara Park, Lisarow and East Gosford.
Older properties in Narara can return up to 7% gross rental yields, so a property that is cash flow neutral is possible, whilst remaining exposed to potential capital gains upsides if these projects deliver.
Rental vacancies are under 2%, and demand supply indicators show the region is picking up.